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COVID-hit Maharashtra’s economy to shrink by 8%: Economic Survey Report

by sajada123
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New Delhi : The Economic Survey 2021, tabled in the state Legislature on Friday, said that Maharashtra’s economy is expected to see an eight per cent negative growth during 2020-21 with industry and services sectors bearing the maximum brunt of the COVID-19 pandemic and the subsequent lockdown.

The economy of Maharashtra has deteriorated due to the corona pandemic. According to the Economic Survey Report -2021 presented in both houses of the Legislature on Friday, the reduction in GDP is estimated at 1,56,926 crore. At the same time, the per capita income has also decreased.

On Friday, Finance Minister Ajit Pawar presented the Economic Survey Report in the Legislative Assembly. The report said that during the corona epidemic, the state’s growth rate in the year 2020-21 affected significantly.

The state’s gross domestic product (GDP) is estimated to decline from Rs 28,18,555 crore to Rs 26,61,629 crore in 2019-20. The agriculture and allied sector is expected to grow by 11.7 per cent.

But the industry is projected to decline by 11.3 per cent, the services sector by 9 per cent, the infrastructure sector by 11.8 per cent and the construction sector by 14.6 per cent. But the matter of relief is that the yield has been good due to good rains, which is expected to increase 11.7 per cent in agriculture and allied work areas.

The survey said that Maharashtra is third after Gujarat and Karnataka in terms of FDI. The total foreign direct investment in the state during 2020-21 was Rs 27,143 crore. By the end of September 2020, Maharashtra is number one in the country in terms of Internet consumers. At that time the number of internet users was 97 million.

 

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